USD/JPY Live News

This page provides live coverage and news analysis on the USD/JPY currency pair

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USD/JPY

Jun. 7, 2023

Kicking off the session at 139.67, Dollar/Yen currency pair peaks at 140.45

Live - Updated 50 minutes ago.

After dipping down to 139.02, Dollar/Yen regains earlier losses and reaches 140.09.

Uptick comes while some more positive signs for Dollar/Yen are out as highly important Crude Oil Inventories data from United States beat analyst expectations of 1 million with a reading of -451,000.

At the same time, United States Cushing Crude Oil Inventories released today at 14:30 UTC with a figure of 1.72 million, while the previous figure was 1.63 million. United States Trade Balance (Apr) came out at -74.6 billion, while a consensus of analysts was expecting -75.2 billion.

USD/JPY made an initial breakout above its 10 day Simple Moving Average at 139.75, a potential indicator of a newly emerging bullish phase. Dollar/Yen broke through the 139.63 resistance and climbed above it 45 pips; next resistance level is at 139.7.

Overall, looking at the technical analysis landscape, it seems Dollar/Yen might continue pointing upwards in the short term.

Elsewhere, other currency pairs are also gaining ground as GBP/NZD gained 0.85% and is currently trading at 2.0603. Having closed the previous session at 1.7592, EUR/NZD is up 0.7% today to currently trade at around 1.7715. GBP/JPY is up 0.55% to 174.33.

Positive indicators for Dollar/Yen are expected going forward as Japan GDP is projected to outperform its last figure with 0.4. It previously stood at zero; data will be released today at 23:50 UTC.

Elsewhere, Japan Current Account n.s.a. (Apr) will be released today at 23:50 UTC. Japan GDP (YoY) (Q1) is scheduled for today at 23:50 UTC.

The currency pair has been trending positively for about a month. Dollar/Yen is now trading 9.29% away from its significant low of 127.75 first tested 4 months ago.

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Week to date

Listless market leaves Dollar/Yen trading around 140.09 .

Trading week at a glance - USD/JPY is up to 140.09, after closing yesterday at zero. Overall, a 0% move or 14,009 pips this week. (Start trading Dollar/Yen at FXTM today).

At the same time, Japan Household Spending (MoM) (Apr) released Monday with a figure of -1.3, while the previous figure was -0.8. Japan Household Spending (YoY) (Apr) came out at -4.4, while a consensus of analysts was expecting -2.3. United States ISM Non-Manufacturing PMI (May) released Monday with a figure of 50.3, while the previous figure was 51.9. Japan Services PMI came out at 55.9, while a consensus of analysts was expecting 56.3. Japan CFTC JPY speculative net positions released Friday with a figure of -96,200, while the previous figure was -80,700.

Outlook for rest of the week: Positive indicators for Dollar/Yen are expected going forward as Japan GDP is projected to outperform its last figure with 0.4. It previously stood at zero; data will be released today at 23:50 UTC.

Elsewhere, Japan Current Account n.s.a. (Apr) will be released today at 23:50 UTC. Japan GDP (YoY) (Q1) is scheduled for today at 23:50 UTC.

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